BUSINESS REPORTER
MUSCAT, MAY 18
Under the auspices of Eng Salim bin Nasser al Aufi, Minister of Energy and Minerals, Oman LNG signed an agreement with Vitol Asia Pte. Ltd to optimize Oman LNG’s LNG supply portfolio, marking another significant step in strengthening its global partnerships.
The agreement, commencing in 2026, entails optimizing up to 0.8 million metric tonnes per annum (MTPA) of liquefied natural gas (LNG) with Vitol on a Delivered Ex-Ship (DES) basis. This collaboration builds upon Oman LNG’s strategic portfolio and leverages the flexibility from its DES commitments, particularly aligning with evolving market demands.
Hamed al Naamany, Chief Executive Officer of Oman LNG, commented, “This agreement with Vitol reflects our agility and continuous adaptation to market dynamics. We are pleased to see continued positive market response to Oman’s strategy in gas and LNG. Vitol is a key portfolio trader and a trusted partner, and we are pleased to extend our cooperation through this deal which supports our long-term growth and value delivery.”
Mahmoud al Baloushi, Chief Commercial Officer of Oman LNG, added: “This optimization agreement with Vitol is a testament to our proactive commercial strategy, enhancing our portfolio's adaptability and responsiveness to global market shifts. It allows us to further capitalize on our established reputation and experience to unlock new value.” The signing ceremony for the agreement was held in Muscat, reflecting the continued support of the Omani government in advancing the nation's strategic energy objectives.
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